National Treasury officials reportedly proposed a 1% or 2% VAT increase to sustain South Africa’s R350 “social relief of distress” grants.
that South African residents could soon face higher value-added tax rates to sustain the R350 social relief of distress grants.that the Department of Social Development had returned more than R15 billion worth of SRD grant money to National Treasury after it failed to spend the allocated budget.
The meeting included a presentation to President Cyril Ramaphosa proposing, among others, a 1%–2% VAT increase to generate an additional R24.5 billion to R49.4 billion for the grant. However, citing government insiders, City Press reported that the department didn’t attempt to contact applicants. R755 million was transferred to the Department of Defence for extended deployment as part of Operation Vikela in MozambiqueGrant system “glitch” leaves 600,000 South Africans in a pinch
Several members of Postbank’s board resigned, citing a hostile attitude from communications minister Mondli Gungubele. The minister said governance issues at Postbank had been a barrier to the government’s goal to build a functional state bank that would benefit poor people.Social development minister Lindiwe Zulu said it is important for Postbank to communicate with government when it faces problems to ensure there is always a Plan B available.
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